The project is set to be finished in the fourth quarter of 2026. Credit: Related Argent.

ICG Real Estate has granted property developer Related Argent a £243m ($293m) loan to develop a landmark build-to-rent (BTR) project in Tottenham Hale, London, UK.

The construction loan is part of ICG’s real estate debt strategy.

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The BTR scheme will comprise 484 new rental housing units.

These housing units are the final phase of the Related Argent-owned 3.5-acre Heart of Hale regeneration project.

This phase will include 1 Ferry Island, a 12-storey residential tower featuring 108 units, and 2 Ferry Island, comprising 376 homes spanning two towers with a total of 38 storeys.

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UK-based architect Allford Hall Monaghan Morris designed both towers, which are being constructed by Midgard.

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Related Argent managing director Tom Goodall said: “The capitalisation and start of major construction at 1 and 2 Ferry Island are important milestones to complete the Heart of Hale development, creating a new community and a destination for Tottenham Hale.”

The project is expected to be completed in the fourth quarter of 2026.

Buildings 1 and 2 Ferry Island will include the Island Club, featuring co-working areas, studios, and sky gardens, among other amenities.

Being delivered in collaboration with Haringey Council, the scheme will also include a new pedestrianised civic area at the centre of the Tottenham Hale master plan.

ICG managing director Jai Patel said: “This project forms part of a wider regeneration project in this part of North London and underlines our commitment to funding high-quality accommodation within visionary mixed-use developments.”

The entirety of the Heart of Hale project is valued at more than £600m and includes 1,032 new houses, as well as market sale, on-site affordable and BTR housing spread over seven towers.